Why I’d Rather Pay $700,000 For A One-Bedroom Apartment In New York Than A Mansion Anywhere Else

My recent article about my 150-plus apartment search, which ended with me
buying a $700k one-bedroom on the Upper West Side, sure
stirred some ire when it was
reposted on Business Insider last week. Commenters
accused me of being an "indecisive nut job" and way overpaying to
live in a "s---hole."

It’s obvious that the angriest among you know nothing about New
York real estate, the endless options available, or the time it
takes to scour the city for the appropriate apartment match.

You don’t realize that it may be easier to find a mate in a city
of eight million than it is the right co-op to call home (and
dating is no easy feat!).

My husband and I researched the listings and attended open houses
every Sunday, in the same way many other apartment-buying
candidates do in NYC.

Maybe I looked at too many listings, or maybe attending open
houses each week for a year was overkill. But I can tell you that
I have no regrets about the purchase of my Upper West Side
one-bedroom.

Now, onto you, "Happy Donkey," and your opinion that New York is
a “s--hole” and I’m crazy for spending $700K on an
825-square-foot apartment. I beg to differ, and so do the
other 40 million people that visit NYC each year.

No, I don’t have deer (or deerticks btw!), foxes, and hawks in my
backyard. Instead, my "backyard" is Riverside Park, which
overlooks the Hudson River... and I'm just 10 minutes from
Central Park, arguably the greatest park in the country.

No, I don’t have a basement to store loads of unnecessary crap
that will one day be sold in a yard sale. Instead, I live simply
and with less -- but still much more than I really need -- and
somehow it all manages to fit comfortably into my 825-square-foot
space.

I may pay a higher mortgage and monthly fee than other co-op or
condo owners around the country, but along with the steeper costs
of living in New York comes the world outside my door.

Bottom line: I’d rather spend $700,000 to live in a one-bedroom
apartment in Manhattan than a mansion anywhere else.

I've lived in Manhattan for five years, and I can’t imagine
living elsewhere. If I couldn’t afford to live in Manhattan, then
I’d live in Brooklyn, Queens or somewhere more
affordablewith easy access to
Manhattan. I’ve lived in and visited other major cities, and
city living doesn’t get any better than here.

Here's why:

1. The ambition and opportunity---NYC is for the best of
the best

Anyone can come to this city with a dream, work hard, and live
that dream. For decades, people from all over the country and all
over the world have come to New York to experience the life, and
to grab a slice of it -- no matter how small.

As a result, New York City has the best of the best in all
areas---business, arts, finance, food, entertainment, fashion,
and the list goes on. Like the majority of New Yorkers, I strive
to be the best that I can be. I find that when I surround myself
with the best I do better.

2. The balance—work hard, play hard

People work harder in this city than in any other place I’ve ever
lived in or visited. From a bartender in the neighborhood pub to
the aspiring actress in an Off-Broadway show, to the investment
banker ... no matter the occupation or the paycheck, New Yorkers
are focused, but they also know how to let loose and have a great
time when not working.

3. Buying real estate in NYC is a great
investment

Sadly, while many areas of the country are in foreclosure or have
plummeting home values due to the recession, I could sell my
one-bedroom apartment tomorrow for more than what I paid for it
in 2009.

A comparable apartment in my building recently sold for $810,000.
I paid $695,000 for mine.

4. So many choices

Life is about choices, and there’s no place with a greater amount
of options than NYC. From restaurants, to nightlife, to arts and
culture, to grocery stores, to street vendors, to shopping, to
neighborhoods, to job opportunities, to people, New York offers
more of everything than any place else.

5. Easy living

I can shop at the Apple Store at 3 a.m., get a steak delivered at
midnight, hit the streets at 6 a.m. and life is happening all
over the city. I can walk to the grocery store in less than three
minutes, the drug store is two minutes away, the bagel shop
another two minutes, and the wine store is five minutes away.

What I can’t carry, I can get delivered. I can walk to Central
Park in less than 10 minutes, and Riverside Park in less than
three.

I can hop on the subway, which is also a three-minute walk from
my apartment, and I can be most anywhere in Manhattan within 40
minutes or less. I have no traffic and no high gas prices to deal
with.

A ride on the subway costs me $2.25 each way, and it often comes
with free live musical entertainment in the station or on the
train. And on top of it, I’m reducing my carbon footprint.

6. The active lifestyle

While much of America is sitting in traffic and leading a
sedentary lifestyle, my life is active.

I get exercise while doing daily activities like running to the
grocery store and meeting a friend for dinner. I walk miles each
week just living life, and I’m healthier for it.

7. Diversity

New York is one of the most diverse and racially integrated
cities in the world. With that diversity comes acceptance and an
environment where people can flourish and be who they aspire to
be without judgment.

It’s a place where all kinds of people blend together. New York
is not a Mecca for any one nationality, race, background, sexual
orientation, or political party. New York City is a city for all.

8. No bulls--t attitude, but the friendliest people
anywhere

I love the straight-shooting attitude of New Yorkers. I always
know where I stand.

In my opinion, the no BS way of living and communicating is the
only way. It beats someone pretending to like me and then
stabbing me in the back the first chance they get.

Matter-of-factness isn't to be confused with rudeness. Even
though New Yorkers get a bum rap, they are hands down the
friendliest people anywhere. I’ve fallen on the street in
Manhattan, and in seconds, someone rushed over to pick me up.

9. Location, Location, Location

I have it all, and it's close by. On top of a
great urban lifestyle, we're less than two hours from some of the
most beautiful beaches in the country, Bucks County, and the
Catskill Mountains.

We are in close proximity to other sought-after vacation spots
like Coastal Connecticut, the Berkshires, the Finger Lakes,
Nantucket, and Cape Cod.

10. The positive energy

Every time I walk on the streets of New York City, I feel an
energy that I’ve never felt anywhere. I feel like I can be myself
and accomplish anything I set out to do. And to me, that’s
priceless.